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THE UNITED STATES/
TORONTO, Sept. 13, 2011 /CNW/ - Claymore Investments, Inc. is pleased to
announce that Big Bank Big Oil Split Corp. (the "Company") has filed a
preliminary short form prospectus in connection with a follow-on
offering (the "Offering") of Capital Shares and Preferred Shares of the
The Company completed its initial public offering of Capital Shares and
Preferred Shares on June 16, 2006. The outstanding Capital Shares and
Preferred Shares currently trade on the Toronto Stock Exchange (the
"TSX") under the symbols "BBO" and "BBO.PR.A" respectively.
The Company invests in a portfolio (the "Portfolio") of common shares of
the six big Canadian banks and the ten biggest (by market
capitalization) Canadian oil and gas companies utilizing a split share
structure. The Company invests on an equal-weighted basis and provides
a low fee approach to the underlying sectors. The Preferred Shares are
rated Pfd-2 by Dominion Bond Rating Service Ltd. The Company may write
covered call options and cash covered put options on the Portfolio in
order to generate additional returns.
The investment objectives for the Preferred Shares are: (i) to provide
holders with fixed cumulative preferential quarterly cash distributions
in the amount of $0.13125 per Preferred Share; and (ii) to return the
original issue price of $10.00 per Preferred Share to holders on
December 30, 2016. The investment objectives for the Capital Shares
are: (i) to provide holders with regular monthly cash distributions,
which are currently $0.09 per Capital Share; and (ii) to provide
holders with the opportunity for growth in the net asset value per
The Offering is being made on a best efforts agency basis in each of the
provinces and territories in Canada through a syndicate of investment
dealers co-led by TD Securities Inc. and CIBC World Markets Inc. and
including GMP Securities L.P., RBC Dominion Securities Inc., Scotia
Capital Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc.,
Canaccord Genuity Corp., HSBC Securities (Canada) Inc., Raymond James
Ltd., Desjardins Securities Inc., Macquarie Private Wealth Inc., Dundee
Securities Ltd., Mackie Research Capital Corporation, and Rothenberg
Capital Management Inc.
Completion of the Offering is subject to securities regulatory and TSX
About Claymore Investments, Inc.
Claymore Investments, Inc. ("Claymore") is a Canadian leader in bringing
intelligent, low cost exchange-traded funds to Canada through its
family of 31 ETFs and 2 closed-end funds across broad asset classes
including core equity, global sectors, fixed income and commodities
with over $6.7 billion in assets under management as of August 31,
2011. Claymore Investments, Inc. is a wholly-owned subsidiary of
Guggenheim Funds Services Group, Inc., a financial services and asset
management company based in the Chicago, Illinois area and an indirect
subsidiary of Guggenheim Partners, LLC, ("Guggenheim") a global,
diversified financial services firm with more than $100 billion in
assets under supervision. Guggenheim, through its affiliates, provides
investment management, investment advisory, insurance, investment
banking, and capital markets services. The firm is headquartered in
Chicago and New York with a global network of offices throughout the
United States, Europe, and Asia.
For more information, investors should consult with their investment
advisor or visit our website at www.claymoreinvestments.ca.
A preliminary short form prospectus containing important information
relating to these securities has been filed with securities commissions
or similar authorities in each of the provinces and territories of
Canada. The preliminary short form prospectus is still subject to
completion or amendment. Copies of the preliminary short form
prospectus may be obtained from your IIROC registered financial
advisor. There will not be any sale or any acceptance of an offer to
buy the securities until a receipt for the final short form prospectus
has been issued.
SOURCE Claymore Investments, Inc.
For further information:
For media inquiries, please contact:
Vice President, Marketing, Claymore Investments, Inc.
President, Claymore Investments, Inc.